Corporation Tax Essentials
Corporation tax in the UK is a tax that limited companies need to pay on their profits.
Put simply, corporation tax is an income tax for limited companies. Corporation tax is paid on the profit of the business at 19%.
A company pays corporation tax on the profits of the business.
The corporation tax rate for company profits is 19%.
This is dependent on your accounting period:
We take the turnover figure (all sales income) and deduct your expenses. The figure left is your profit and this is taxed at 19%.